St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-06-14
On the Chicago Board of Trade the Dull
ness in the Wheat Pit Was
Remarkable.
Particularly as Compared With the Ex-
element of the Closing Hours
of Saturday.
July Has Now Becor.aa ! ...7 Upuon About
- Which the Speculative Inter-
est Centers.
Transactions in the Financial Circles
of Wall Street.-The Gen.
eral Markets.
Special to the Globe.

Special TO the Globe.
CHICAGO June 13.-The incident of the day
in the wheat pit was a bid of S3Sc for any
part of ). 0O0, 900 bushels of July wheat by
Rosenfeld 4 Co. This came on top of heavy
purchases of the same option by the Same
house at S3i2c. Tine bid sent the market
above Sic for July The clique houses had
orders to buy July wheat this morning, and
Irwin, Green u Co, and NJ. Rosenfeld d Co.
did buy enough July at the start to steady the
market but not enough TO give the impression
that there was not any organized efforts on
the part of the June crowd to get much of
July. The price. which was S3c on the curb.
was run up 70 S3S4c, but il was bulled by the
scalpers. The receipts were large-44S cars
so was the "out inspection, which amounted to
$50. 600 bushels. The interest low centers
in July, the June deal having advanced so
far that there is little left TO speculate over
The argument is that the clique would
r scarcely so 10 the pains of enormous ship
ments of cash wheat simply for the benefit of
their June deal. They do not help it. but
rather hinder it. and make it more expen-
sive. Neither does it seem likely that the
June crowd would. buy several million
bushels of July. as they did Saturday and to-
day, if no July operations were intended.
After the market settled down the crowd had
evidence that the clique houses had orders in
July at S3I2c. or better, from Cincinnati.
The buying of scalpers who tailed on upon
that theory took July TO S3S4c. W. T. Baker
d Co. are believed TO be holders of good
deal of
JULY WHEAT
for the June crowd. There are one or two
other houses whose lines of July are large
and who appear to be using the same wires
in reporting their trades, and the same
cipher that the old clique houses do. The
New York clearanees of wheat, 1875, 900
bushels, made the shipments from that
port alone this week about 100000 bushels.
After the big bid from Rosenfeld u Co., at
S3s.c, the clique houses retired from the
market. The visible supply figures under
ordinary circumstances would have been
considered bear circumstance, but the re-
ceipts at Chicago have been so extraordinary
because of the squeeze that a decrease cf
even $40, 900 bushels in the visible Of wheat
was accepted finally as something remark
able, and il was nothing but the enormous
shipments from the seaboard that could
have offset them. The receipts of wheat to-
morrow will be big. The estimates are for
900 ears. kershaw offered 5000
cars and ], 500, 600 bu of wheat to one of the
branch lines at zoe rate to-day. 1t was re-
fused, but the offer showed the disposition of
the clique to get the wheat out. The cable
continued steady up to the close, although
the shipments of India wheat to the United
kingdom last week were $50 600 quarters.
In corn there was very little news. There
was very little reaction from the Csc point
for July, but the market at no time exhibited
any buoyancy. The time is still inauspicious
for the bull side. The receipts tomorrow
will be large-350 cars. The freight rates
are still SO high as to initiate against any adj
vance, and these rates are likely to continue
high so long as there is the extreme pressure
from the clique for room for wheat. Joe
Wiltshire, of Cincinnati. the engineer Of the
wheat deal, was here to-day.
THE ROUTINE REPORT.
CHICAGO, June 13-The dizziness which
prevailed in the wheat pit to-day was in
marked contrast with the. excitement of the
closing hours of Saturday, when wheat
dropped nearly &c under enormous unload
ing 1t is said that the manipulators of the
tumble took in 1000. 600 bushels at &c under
the average trading figure of the day Satur-
day, and it was also reported that the same
combination, in order TO steady the market
again, took 100000 bushels to-day. June
wheat has lost its interest largely to the
crowd, and July is the center of interest
June sold to-day with a I4c range, at 92A@
92l2c; July opened at S314c, and because the
clique offered to take l0O0,000 bushels the
scalpers hitched i'll moderately, and July sold
up 10 oOo4c- lHeH Dack 10 S04c, ana later up
to S3l2C The scalpers did most of the bull
lng,and toward noon succeeded in getting July
up 10 S37sc. Estimates on the visible supply
by this time began to show decrease instead
of an increase. and helped the bulls in their
endeavors. There was. however, little or no
trading or anything to distinguish the market
up TO noon from that of any other day, but
little after noon it was bulged to
supply statement showing de-
crease. The last half hour was not broken
by any special event. Trade was moderate
July closing the morning session at S384M
S37sc and the afternoon at S334 Eighty
eight cars of wheat were reported received
to-day. Corn was easier and prices ranged
lower, but changes were small and unimpor-
tant and, taking the day as whole, it was
decided unsatisfactory one to all classes of
trades. The receipts were liberal and with
drawals from store large. Longs sold mod
crate at inside figures, and there was said to
be fair buying orders. July opened at 3SSsc.
sold up To 3S4c and closed at Csc. The pro-
vision market was quiet but steady. and with
out new or interesting features. The scalp
ers were the principal traders. Lard was
slow at S6.65@6.TO. and closed at $685.
THE QUOTATIONS.
The leading futures ranged as follows:
Wheat-No. June, 92i2c. closing at 924c:
July, e3sAc, closing at. e3s4c; August
closing at 7s1sc. Corn-No. June, 37Isc;
closing at 37c; July, 3Slsc, closing at 3Sc:
August, .39Ac, closing at 39I2c: September
4OlSc. closing at acc. OatS-No. June,
25c, closing at 247sc: July, 257sc, closing
at 257sc; August, Disc, closing at 247sc;
September, 21S4c. closing at 247sc Mess Pork
Per Dbl, June, SD, closing at S22 Lard
Per 100 lbs, June. S6.6214, closing at ST. 60:
July, S6.67I2, closing at So. IS August
S6.75, closing at 1913; September, SO. 37Ia.
closing at S6.S5. Short Ribs-Per 100 lbs
June, $3.50, closing at $40; July, $3.50.
closing at $40. August, $40, closing at
$50; September, $3.50, closing at 81 100.
Cash quotations were as follows: Flour
was dull and neglected; prices were firm.
Wheat-No. 2 spring. 92@92Ac; No. s
spring, T3e; No. 2 red, 92c Corll-No. 2.
31@37lsc. Oats-No. 2, 25@25Ac. Rye
No. 2, 53l2c. Barley-No. 2, SOC. Mess
pork, per Dbl, S21. Lard, per 100 lbs.
S6.62I2@6.65. Short ribs sides, loose, S7.75:
dry sailed shoulders, boxed, SIS. 60@.5. 20;
short clear sides, boxed, 81. 9QQ17 95.
Whisky-Distillers finished goods, per GAL
lon, 81. 10. Sugars-Cut loaf. 6ssG Csc :
standard "A" 55se. Receipts-Flour, I 900.
bbfs:- wheat. 244:00O bu; corn,s $4,000
bu: oats, 14T.o00 bu: rye, 1000 bu: bar
ley, 1000 bu. Shipments-Flour, $1,000
bbls; wheat. .527, 900 bu: corn. 24G, 600,
hu; eats, Isl goo bu; barley, 600 bu On
= the produce exchange to-day the butter
market was steady with firner indications;
creamery, 13l2@17l2c; dairy, 12@15c.
Eggs were triile weaker at 13l2114c.